Banca Transilvania

Greece's Eurobank said it is close to finalizing a deal to sell its Romanian subsidiaries to Banca Transilvania.

The potential sale is part of a restructuring plan agreed by Greece's third largest lender with European Union authorities, and includes Romanian units Bancpost, ERB Retail Servces IFN and ERB Leasing IFN.

Eurobank is in talks with Banca Transilvania to sell its subsidiaries in Romania as part of a restructuring plan agreed by Greece's third largest lender with European Union authorities.

The sale would close a decade-long chapter of ambitions by Eurobank and other Greek lenders to spread their wings abroad after the country's debt crisis forced them to retreat.

Banca Transilvania, the third-largest bank in Romania, is under discussions to take over the Romanian subsidiary of the Austrian banking group Volksbanken, Volksbank Romania SA, two sources close to the discussions have told Bloomberg.